Sometimes companies that are in the same business or industry have similar chart patterns. That’s not the case with Intel Corporation INTC and Advanced Micro Devices, Inc. AMD.
Intel looks like it isn’t going anywhere anytime soon. It has been trading sideways and the momentum is neutral. It's also far below the $68 level, which was where it hit resistance in April.
On the other hand, Advanced Micro Devices looks like it may be about to sell off. The shares are overbought, which means they've reached an extreme above what is their normal trading range.
They're also getting close to levels that were resistance in December and January. Both of these conditions, being overbought and approaching resistance, will draw sellers into the market. They could knock it lower.
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